Is It a Good Time to Sell My House?

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Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time to sell.

Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains:

“Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale.”

Normally, spring is the busiest season in the housing market – the time when many homeowners decide to list their houses. While this is obviously not a normal year since the pandemic is still very much upon us, experts are optimistic that consumer positivity around selling will lead to more homeowners making moves this year. Duncan continues to say:

“We will pay close attention to see if this newfound optimism develops into a trend.”

If you pressed pause on selling your house last year, now may be the best time to put your plans back into motion while inventory is so low.

What does this mean if you’re thinking of selling your house?

The fact that there are so few houses available for sale today is one driver that’s encouraging consumers to think more positively about selling. The National Association of Realtors (NAR) states:

“Total housing inventory at the end of January amounted to 1.04 million units, down 1.9% from December and down 25.7% from one year ago (1.40 million).”

With so few homes available to buy, your house will be more likely to rise to the top of an eager purchaser’s wish list in this competitive market. Today’s high buyer activity is creating upward pressure on home prices and more multiple-offer scenarios. According to the Realtors Confidence Index Survey from NAR, the average home for sale is receiving 3.7 offers today, up from 2.3 offers just one year ago. This makes selling even more enticing.

In this kind of sellers’ market, you have a huge advantage in the process. And here’s another win – you can also use your equity toward a down payment on a new home when you move.

Wondering where you’ll go if you try to move while it’s so challenging to find a home to buy? Well, in many areas, there are more homes available at the higher end of the market, so finding a move-up home may be less of an issue if you’re ready to search for your dream home this spring.

Diane’s Opinion

If you pressed pause on selling your house last year, now may be the best time to put your plans back into motion while inventory is so low. Let’s connect today to get the process started.

Is It a Good Time to Sell My House?

Perspective Matters When Selling Your House Today

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll understand the big picture. Compared to 2020, we’re just barely above the level of inventory we saw then. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 40% below the housing supply we had at that time.

Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

169 Klondike Rd, Dudley, MA 01571

Custom designed & built w/ incredible attention to detail & hardwood throughout. Almost a 1-acre private parcel across from Pierpont Meadow Pond you’ll enjoy water views from many locations in the property. Easy one level living w/ the opportunity to finish the 2nd floor, basement or above the detached garage. The main floor offers a private main bedroom w/ walk in closet & bath. Two additional, generous sized bedrooms at the opposite side of the property with 2nd full bath. Open kitchen, dining room and living room with beautiful stone fireplace and plenty of windows/glass doors to let in natural light. The 2nd floor is complete with windows, skylights, electric, rough plumbing & a/c. The yard has welcoming entertaining space with an oversized deck, in-ground saltwater pool, patio & stone fire pit. Looking for work at home space, check out the 2nd floor of the detached garage, perfect for office or rec. room. Laundry on main level and Buderus heating system.

A Window of Opportunity for Homebuyers

The housing market is undergoing a shift because of higher mortgage rates, but the market is still strong. If you’ve been looking to buy a home over the last couple of years and it felt impossible to do, now may be your opportunity.

Contact Diane

Diane Casey Luong

Diane Casey Luong

Realtor

Realtor at RE/MAX Advantage I, Buying Real Estate Agent, Seller Real Estate Agent, Listing Real Estate Agent

DIANE-CASEY-LUONG-BUYERS-GUIDE

You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide above will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.

It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone.

You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.

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2015

RE/MAX 100% Club
Diane achieved levels of productivity in 2015 that were more than double the industry average with commission levels of $100,000 – $249,999

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2016

RE/MAX 100% Club
Diane achieved levels of productivity in 2016 that were more than double the industry average with commission levels of $100,000 – $249,999

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2017

RE/MAX 100% Club
Diane achieved levels of productivity in 2017 that were more than double the industry average with commission levels of $100,000 – $249,999

Award Logo for ReMax

2018

RE/MAX 100% Club
Diane achieved levels of productivity in 2018 that were more than double the industry average with commission levels of $100,000 – $249,999

Award Logo for ReMax

2019

RE/MAX 100% Club
Diane achieved levels of productivity in 2019 that were more than double the industry average with commission levels of $100,000 – $249,999

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2016

Realtor™ Association of Central Massachusetts
2019 Top Producers, Ruby Level

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2019

Realtor™ Association of Central Massachusetts
2019 Top Producers, Ruby Level

Working with Diane was an absolute pleasure and joy.

She was incredibly professional yet still warm and personable. I always felt that Diane had my best interests in mind; she never pressured me into anything and always worked to get me all the information I needed before making a decision.

Diane had great knowledge of the housing market in the area and the pros and cons to look for when looking at homes.

During the finalization process, Diane was able to refer me to an excellent home inspector and other individuals necessary for the closing.

I wholeheartedly recommend Diane and would use her again if I am lucky enough to buy another home or sell my own.

Bought a Townhouse home with Diane in 2016 in Worcester, MA.